Re: Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend

Mervyn King, Head of Bank of England called a meeting a couple of weeks ago where heads of the Central Banks attended - including China. There was a few articles about it at the time. He announced last Thursday that they were all preparing to co-ordinate, depending on the Greek outcome.

The thing is, they won't know immediately what will happen in Greece. None of the parties want to leave the €uro, they just want to re-negotiate the terms of the bailout package.

If it's going to hit the fan then it'll more than likely be July because that's when Greece are due to make their next interest payments and they can't do that without the next round of bailout money. They won't get that bailout money if they don't agree to stick to the original terms. At that point they will default on the bailout loan agreement and then..... ???

It's absurd anyway that they're getting more bailout money from the very countries they've got to pay interest payments too! If I owed my bank €100 and asked to borrow another €100 from that same bank just so I could pay them back, they'd laugh at me.

Re: Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend

I found a link to the "Secret Summit" held by Mervyn King. The article was from 26th May so they've had their chips lined up a for awhile now but only announced co-ordinated plans, last Thursday.

"London will this week host a private global summit on the world financial crisis amid mounting pressure on eurozone economies.No agenda has been published and there will be no communique issued afterwards.‘It is a private, off-the-record meeting,’ said a source."

Re: Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend

If it's going to hit the fan then it'll more than likely be July because that's when Greece are due to make their next interest payments and they can't do that without the next round of bailout money. They won't get that bailout money if they don't agree to stick to the original terms. At that point they will default on the bailout loan agreement and then..... ???

Re: Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend

I found a link to the "Secret Summit" held by Mervyn King. The article was from 26th May so they've had their chips lined up a for awhile now but only announced co-ordinated plans, last Thursday.

"London will this week host a private global summit on the world financial crisis amid mounting pressure on eurozone economies.No agenda has been published and there will be no communique issued afterwards.‘It is a private, off-the-record meeting,’ said a source."